Weiss Ratings Reiterates "Sell (D-)" Rating for REGENXBIO (NASDAQ:RGNX)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for REGENXBIO's stock, reflecting ongoing concerns from investment analysts.
• The stock has a consensus rating of "Moderate Buy" with an average price target of approximately $28.38, despite mixed opinions from various analysts.
• REGENXBIO reported a quarterly loss with earnings per share of ($1.38), missing analysts' expectations and resulting in a significant negative return on equity.

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

RGNX has been the topic of a number of other research reports. Barclays reduced their price target on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. HC Wainwright restated a "buy" rating and set a $34.00 price target on shares of REGENXBIO in a report on Tuesday. Wall Street Zen downgraded REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Chardan Capital restated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a report on Monday, September 8th. Finally, Royal Bank Of Canada reduced their target price on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.38.

REGENXBIO Trading Up 16.3%

NASDAQ RGNX opened at $12.22 on Wednesday. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $12.30. The stock has a 50-day moving average of $9.14 and a 200-day moving average of $8.62. The firm has a market cap of $617.23 million, a PE ratio of -3.55 and a beta of 1.17.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million for the quarter, compared to analysts' expectations of $40.87 million. As a group, equities research analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, CEO Curran Simpson sold 7,734 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $10.02, for a total transaction of $77,494.68. Following the transaction, the chief executive officer owned 244,597 shares in the company, valued at approximately $2,450,861.94. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.79% of the company's stock.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake in shares of REGENXBIO by 23.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company's stock worth $6,807,000 after buying an additional 132,942 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of REGENXBIO by 2,049.0% in the 2nd quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company's stock worth $1,800,000 after buying an additional 209,084 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of REGENXBIO in the 2nd quarter worth approximately $108,000. CANADA LIFE ASSURANCE Co grew its stake in shares of REGENXBIO by 271.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,839 shares of the biotechnology company's stock worth $89,000 after buying an additional 7,924 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of REGENXBIO in the 2nd quarter worth approximately $85,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.